Getting your Trinity Audio player ready...
ZENITH ELECTRONICS Corp. of Glenview filed a registration statement with the Securities and Exchange Commission for a proposed $75 million offering of notes due in 1995.
The consumer electronics firm said net proceeds would be used to reduce short-term debt incurred to finance working capital and capital spending requirements.
Moody`s Investors Service assigned a Baa1 rating to the issue.
Moody`s also upgraded Zenith`s Springfield, Mo., industrial revenue bonds to Baa1 from Baa2. The agency said the upgrading, which affects about $1.2 million of outstanding debt, reflected the ”expanding earnings contribution of Zenith`s new businesses and the resultant reduction in its dependence on the intensely competitive consumer electronics market.”
